Understanding The Role Of Real Estate Lawyers And Valuers

Melbourne valuation companyAs most of us would be aware, buying or selling a real estate property is indeed a tough and difficult job. There a number of legal, statutory, and other processes that needs to be gone though. As ordinary persons it may not be possible for us to understand the details of each and every process thoroughly. Missing out on even a small process could cause problems and could jeopardize the entire deal. Hence there is the need to hire the services of real estate attorneys and valuers in melbourne for various reasons.

First and foremost, getting a good fix on the legal status of the property is very important. The buyer would like to be doubly sure that the present ownership of the property is established beyond doubt. This would call for performing some important due diligence processes and the role of a good real estate attorney or lawyer is very crucial. In the same light, the role of property valuer also needs to be understood so that his role can also be seen in the right perspective.

When a buyer decides to buy a real estate property, he or she would like to know whether the right price is being paid for the property. This could be found out in more ways than one. The prospective buyers could get in touch with the market and have a reasonably rough idea about the value of the property in question. However, this is at best an indicative rate and the buyer will not certainly put in his money based on this information alone. He would like to get in confirmed from a knowledgeable and informed source. There can be none more qualified than a professional and experienced valuer who could give an authentic figure about the fair value of the property in question.

Apart from the objective information regarding the value of the property when you hire a valuer you also get a lot of useful information that is subjective in nature. This is something that is really of value to the buyer and helps him to make up his mind to buy or not buy the property in question.

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Important Rules Pertaining To Australian Real Estate Buying And Selling

good property valuation company AdelaideAustralia is one of the few countries that has been able to come out of the financial crisis that had swept across the world. Today, it is a market which holds out a lot of promise for those foreigners who believe in staying invested for the long term. However, before investing in the Australian real estate market, you should have thorough knowledge about the rules governing such investment by foreigners. First and foremost each and every property that you are planning to buy in this country as a foreigner should be approved by the separate committee that is set up for this purpose. Only when they approve the transaction would you be able to move ahead and draw up contracts and other documents by the professional property valuers in Adelaide.

In the same light when you wish to sell off properties in Australia as a foreigner here too you are guided by some cooling off period which you should adhere to. The period as of now is 6 months but is subject to change from time to time. Hence, when buying or selling properties in this country you should be sure that you are on the right side of the law. Any ignorance of law will not be tolerated and you may end up paying big fines.

If you are keen on investing in real estate in this country, the first starting point is to take the services of good lawyers and of course good property valuers. As a foreigners you have to depend on the valuers to get an idea about the fair market value of the property that you are planning to buy. You may not be right to go by the market figures alone which could be way off the actual value. There is a high chance of real estate cartels fixing the price and pushing it high especially when foreign buyers are involved.

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How Important It Is To Know About The Local Real Estate Laws

Real Estate LawAs per the current rules and regulations that cover buying and selling of properties by foreigners there is clear mention that the same has to be approved by the government. Hence, it is incumbent upon the buyer to be aware of these rules which may not be always possible. So, the best way forward would be to take the services of a few qualified and experienced professional to take the matter forward.

As a starting point, it would be ideal to identify a good real estate attorney or lawyer who has a good knowledge about the rules governing property buying and selling in Australia especially if the buyer or seller is a foreigner. These professionals will certainly help you to get into such deals confidently without fearing breaking of the local laws which could invite stiff fines.

It is also very important for foreigners to identify good property valuers Brisbane too. They will play a big role in helping to see that that the entire transaction is done smoothly without any hiccup. They will also be very helpful in giving a lot of useful and relevant subjective information which could be of great benefit to foreigners who may not have a good knowledge about the topography and geography of such properties. They will specially lay emphasis on the quality of the neighbourhood and other such important factors which otherwise may not have been available for these foreigners. Therefore, not only knowing the rules but also living by it is very important when buying real estate in Australia. For more information, please visit: http://www.valsqld.com.au

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Understanding The Various Real Estate Valuation Rules And Regulations

5138079732_f7dd017c4b_zThe rules regarding real estate buying, selling and ownership transfers keep changing quite frequently. Even a small change in a small sub-para could have a reasonably big affect as far as the various stakeholders are concerned. For example there could be changes in the way property should be valued, the methods of calculations could also be redefined. In such situations the onus is on the valuers to keep themselves updated and informed accordingly.

There are many ways and means by which real estate valuers in Perth City can get the latest information on such changes to rules and laws. Each and every such change gets updated in the revenue department’s website immediately. This is perhaps the best way by which real estate valuers can keep themselves abreast about the happenings in this field. There are also a number of magazines and publications both from the revenue department and private publishers which could also be a big source of information as far as changes to land and real estate law are concerned.

Though it is quite unlikely that each and every change in real estate rules and laws will impact the valuer, it would not be a bad idea for them to keep updated about such changes too. This is because such changes could have an indirect positive or negative impact on their businesses. Being informed of such changes will prevent them from being caught off-guard or caught napping.

Hence, a good real estate valuer is the one who can offer extra services to his customers. This will be possible only when he or she is able to have the full knowledge and information regarding the latest happenings and changes in the real estate market.

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Australia Real Estate Rules And Regulations – An Insight

9-1532695-agentxinsight_stamp_fct925x569x51_t620If you are one of those persons who wishes to invest in properties in Australia, then it is high time you had a closer look at the various changes to the real estate market. This is because there have been some big changes to the rules and regulations covering buying and selling of properties especially when it comes to foreigners. That’s key reason why role of the certified property valuation company in Sydney is so big in coming years too.

As per the rules that were prevailing before these amendments, backing from a contract to buy or sell a property once it has been entered into would be quite difficult and virtually impossible in most of the cases. However, the recent amendments to the rules now allow for what is termed as a “cooling off period”. As per the amendment that is now in force, the buyer has three days during which time he or she could inform their decision to rescind from the contract irrespective of what has been entered into the agreement between the buyers and the sellers. While this augurs well for buyers, many sellers have been left fuming by this new law. Nonetheless when one looks at it from a fair business practices point of view, this change is very much in line with good business procedures and methods.

However, it should also be borne in mind that there are some exceptions to this rule which the buyers should also be aware of. A few such exceptions are given below:

• These changes to the law will not be applicable in case of auctioned properties that have been bought either three days before or three days after the date in which such auction advertisements have been published.

• If the same buyers and sellers have entered into a similar contract under similar circumstances, then too, the changes to the laws will not be binding on the sellers.

• These changes are only applicable for those properties that have been purchased for residential purposes. In case they are for industrial and commercial use, the law will not apply to both the stake holders.<

• If a buyer happens to be a corporate body or real estate agent then he is not entitled to such “cooling off” period.

• Those who are buying such properties mainly with the objective of farming or if the size of the property in question exceeds 20 hectares, then the changes to the property rules will not apply.

However there is a small penalty that is payable by the purchaser if he or she decides to exercise this cooling off option. This is equivalent to 0.2% of the agreed purchase price or $100 whichever is higher. This amount is either payable by the buyer to the seller or if the seller has received any advance payment, then the seller is within his

Hence, as a customer and also as a seller, being aware of these recent changes to property rules and regulations is very important.

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The Role Of Various Professionals In Real Estate Buying And Selling

01buyandsellhomeBuying and selling of real estate properties may be an easy decision to take. However, when it comes to implementing it on the ground it is quite difficult to say the least. Unlike buying and selling or other movable and immovable properties there are a number of other formalities, procedures and steps that should be followed. Hence, for many buying and selling of real estate properties is a headache to say the least. Therefore in most of the cases there is the need to take professional help to get the whole job done. There are a number of professionals whose help would be needed before the ownership of the property gets transferred from one to another. While touching base with some important professionals we will try and have a closer look at the importance of property valuers and fid out why their role is so important.

Apart real estate agents who play a big role in identifying buyers and sellers, the roles of property lawyers and attorneys is very important. Their role is to ensure that the legal aspects of the property are taken care of properly. They examine the property and other legal documents in great detail and see that the property is free from problems such as easements, covenants and other such encumbrances. Further they also look at the previous owners of the property and ensure that the ownership transfers have taken place correctly and there is no break in between. Last but not the least, many lawyers also have a physical look at the property and compare the same with the property documents.

The role of property valuers and appraiser also needs to be understood in some detail. The main job of these professionals is to find out the fair market value of the property taking into account various parameters and inputs. The value as determined by the value has a legal sanction to it. Therefore the valuers’ report is often considered the main document when it comes to fixing property taxes and stamp duty valuations. Further, valuers also come up with some other subjective information that is of good use to buyers in particular. The information basically delves on the quality of infrastructure in the area and also the availability or absence of various amenities and facilities. Therefore at the end of the day there is hardly any doubt that taking the help of professionals is very important when there is a need to transfer ownerships of properties.

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Deciphering The Role Of Property Valuers And Appraisers

property-valuationWhen buying or selling a real estate property it is important to go through various formalities and procedures. These procedures have legal, statutory and compliance related aspects to it and therefore are considered very important and vital. It is highly unlikely that any property ownership will be completed without the valuation of the property being done property. Property valuation one amongst the various processes that have to be gone through for smooth ownership transfer from the seller to the buyer. Though it is one of the many processes it is considered very important because of various reasons. Let us try and find out more about the same over the next few lines.

The biggest reason why valuation is so very important is because of the need for the buyers and sellers to have a clear idea about the fair market value of the property in question. While the market can give a reasonably accurate idea about the value, this is just a figure. This has to be authenticated and certified by a competent authority. It is here that the role of property valuers becomes extremely important. They play a big role not only in letting the stakeholders to have clear idea about the fair market value of the property but also go much beyond this.

If one looks at the reports of valuers in close quarters, you will find that it has many other aspects of information that are very useful. These are basically subjective in nature. They talk about the quality of infrastructure that is available in the neighborhood. They also share information about the quality of people who make up the neighborhood. A professional valuers’ report also makes a mention about the availability or otherwise of basic amenities and facilities. Hence, all these information certainly will go a long way in helping the customers (buyers in particular) to take an objective and informed decision whether to buy or not to buy the property in question.

Last but not the least, it would also be pertinent to mention here that valuers report also forms the basis for calculation of property taxes. It is also used for having a right fix on the stamp duty applicable for buying and selling of properties. Hence, taking all these factors into account there is not doubt that property valuation is a very important process that facilitates easy transfer of ownership from one particular entity to another.

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What Are The Services To Expect From A Property Valuer

BUYING_SURVEYORSBefore going into further details regarding the roles and responsibilities of property valuers it is important that we have some basic information about the need for valuers and appraisers in the first place. The main role of valuers is to assist both the buyers and sellers with the right information about the fair market value of the property in question. This is very important because it helps both the buyers and sellers to take a call on either buying or selling the property depending on the value reported. Though there is no doubt that the market does a balancing act as far as the accurate prices of real estate properties are concerned, it is important that the same is certified by a competent and experienced authority. There can be none better than valuers who can do it accurately and in right time.

Now coming to the various roles and responsibilities of real estate valuers, it does not end with the real estate valuation figures alone. There are quite a few other pieces of information that are also equally significant. For example, most of the professional valuers go beyond the obvious when it comes to valuation reports. They also give a reasonably exhaustive account   of the location in which the property is coming up or located. This information delves on the quality of infrastructure, the quality of people who make up the neighborhood and availability or absence of various amenities and facilities. Hence these aspects of qualitative information do help the customers to take an informed and correct decision as far as buying or selling the property is concerned.

Apart from the above a good valuer often is referred to as the one stop solution for all matters related to valuation. He takes responsibility for handling any type of valuation however complicated or complex it might be. Whether it is simple valuations or complicated backdated or retrospective valuations, good valuers should be in a position to deliver the reports that is expected of them. it would also be pertinent to point out here that valuers also play a big role in also valuing other movable and immovable properties such as hotels, plant and machineries, factories, offices, just to name a few.

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Important Professionals To Get In Touch When Buying And Selling A Real Estate Property

for_sale_board_newWhen you are buying or selling a real estate property you have to bear in mind that it is totally different when compared to other movable or immovable properties. There are a number of complicated and complex steps that have to be completed. All these steps have a legal angle to it and therefore utmost care and caution should be exercised. This is the reason why the entire process is outsourced by customers to third party service providers.

There are quite a few such service providers whose role is extremely important. However in this article we will look at the important functions of real estate lawyers and real estate appraisers or valuers. Both these professionals have very vital and crucial roles to play failing which it would be difficult to transfer ownerships from one entity to another.

Let us get started with the role of a property lawyer or attorney. He or she plays the most important role of verifying all the property documents from a legal standpoint. They ensure that the property in question is legally perfect and the owner has a total and undisputed ownership and control over it. This might look easy on paper but when it comes to finding out the same on the ground, there is no doubt that it is quite complex. The lawyers may have to pay repeated visits to the government revenue department to check on documents. They may also have to visit the property site and examine it closely. They will have to particularly pay attention to the lurking presence of easements and other covenants which could impede undisputed ownership of the property. They also help in drafting and preparing agreements for buying and selling or properties.

On the other hand the role of a property valuer is also extremely important. He is the one who has to be approached whenever there is a need to get the right picture about the fair market value of the property. Based on such valuation reports a lot of decisions are taken. The customers decide on buying the property while the authorities use the valuers’ report for fixing the property tax and also for calculating the stamp duty payable. They also provide valuable subjective inputs which are very useful to the customers.

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What Are The Roles And Responsibilities Of Property Valuers

IC151400Before we try and understand the roles of valuers, it would be not a bad idea to find out what exactly is valuation and why is it considered so very important. Whenever there is a need to buy or sell a property, there are quite a few important things that must be kept in mind. Apart from identifying the right buyer and seller, there could also be the need to identify sources of funding. These apart there are quite a few legally required processes and steps that have to be followed. One such process that is extremely important is valuation. It is a process that is usually the domain of experienced valuers. The main objective of valuation is to help the customers to have a correct idea about the fair market value of the property that is either being bought or sold. The valuation report submitted by the valuer has a number of uses to it including calculation of property tax, stamp duty, etc. Hence, there is a lot of responsibility resting on the shoulders of a good valuer. let us over the next few lines try and find out what are the roles and responsibilities of a property valuer.

The first and primary task of a valuer is to ensure that he gives a true and honest picture about the fair market value of the property that is either being bought or sold. For this to happen, there are quite a few important points that should be taken into account. A lot of important inputs are needed such as size of the property, its age, location and so on. Additionally when a valuer submits a valuation report he or she does no merely restrict himself or herself to the valuation report alone.

They are also responsible for a number of other important pieces of information. These include the infrastructure development in the area, the availability or otherwise of various amenities and facilities and also the quality of people who make up the neighborhood. This information certainly adds lot of value to the customers and they are able to take a decision whether to go in for the transaction or not. Additionally, a good valuer also does complex valuations, whether it is backdated or retrospective valuation or valuation for compensation claims raised by customers.

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Real Estate Valuers And Their Roles

1120310403001Any real estate purchase involves thousands of dollars and in many cases it could even go up to a few million dollars. Since the stakes are quite high, the buyers would naturally like to exercise extreme care and caution before inking on the deal. Amongst the various things, the prospective buyers would like to be sure about the fair market value of the property which they are buying. Though the market does give an indicative pricing for the property, buyers would like to hear it from the horses’ mouth so to say. For getting an authentic value of the property in question, the role of valuers is indeed very important to say the least.

The valuers use various methods, tools and techniques to arrive at the value of a property that is being put on the block. Apart from the objective information in the form of the value of the property, there are also quite a few other important bits of information that are extreme value to the prospective buyers. A good and well presented valuation report will also mention about the quality of life in the neighborhood where the property is located. It will also delve into the infrastructure development, availability or otherwise of various amenities and facilities, just to name a few.

Hence, there is no doubt that valuation reports play an important role in helping the buyer to make up his mind whether to buy a property or not. Further, valuation reports in many cases form the basis on which property tax amounts are calculated. They also are the main document based on which stamp duty amounts are decided upon. In many cases, valuers also have a big role to play in fixing rents and lease amounts. They act as arbitrators and sort out differences between landlords and tenants in matters relating to fixing of rents and lease amounts.

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How To Become Successful In The Real Estate Business

183499407-FThe most common area of business where many entrepreneurs try their luck out in the real estate industry is in the real estate agency area. This indeed is a vast ocean and there certainly is big money that needs to be made. However, the success ratio is quite low and this is nothing abnormal and is very much in line with failure ratios in other businesses in other industries. First and foremost becoming successful in a real estate agency business does not happen overnight. It takes lot of time and effort and there is no magic wand for immediate success.

The next business area that provides good opportunity in the real estate industry space is the one pertaining to real estate management or property management. As the real estate industry booms and as there are thousands of new apartments and buildings coming up every now and then, there is a need to maintain them and also take care of the tenants and lessees who could be living there. A good real estate manager is a very important link between the tenant and the property owner and hence it can be a good business idea.

Last but not the least we will have a look at the growing importance of real estate valuation as a big business opportunity. Those who are familiar with buying and selling of real estate properties will agree that it is impossible to buy or sell properties without having them valued. Apart fro real estate valuation, there are other areas too where there is a big demand for valuers. It is a business that will continue to flourish and does not require huge start up costs. However, of late many valuers are keen on having a formal qualification on real estate valuation. This is mainly because of changing customer needs and requirements which can be better handled with a formal and well-thought out qualification on the subject matter.

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What It Takes To Be A Successful Real Estate Valuer

1365023939_78377980-300x199First and foremost, it is important for valuers to understand the significance and need for a formal course on real estate valuation. Though this may not be mandatory even today, the day will not be far off when it will become so. At that point in time, as a valuer you should not be found wanting. Hence the topmost priority for modern day valuers should be the need to complete a formal course on property valuation. This is not a very difficult course to complete and one can do it sitting in the comfort of their homes or office. There are a number of reputed online institutes that offer the best of valuation courses that are cotemporary and have a big role to play as far as giving a new thrust to valuation business is concerned.

The next important point is to understand the need to have a website of your own, however small or big your valuation business might be. Though the need for website may not have been felt even a decade back, today the need for a website is being felt all the more. This is because of definite changes in customer buying and information seeking pattern. Time being a very big constraint for most of the customers is forcing many customers to look for ease of buying whether it is product or services.

Hence, valuers should awake to this changing reality and have a website of their own. Apart from ensuring that the website has all the required information, it is also important for the valuers to add value to their customers. This can be done well by offering online valuation which certainly will be welcomed by most customers who are already hard pressed for time. It will prevent them from making repeated trips to the valuers’ office in pursuit of the valuation  report. It will also be a boon for the valuers because they will be able to serve their customers better and streamline their operations, reducing wastage and unproductive tasks.

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Success Principles Of Real Estate Attorneys And Valuers

woman_realtor_shaking_hands_600Whenever a property is bought of sold in any part of the country, the role of real estate attorneys and valuers is extremely important. The former plays a big role in checking the legal points of each and every transaction. There are plethora of rules and regulations and statutory requirements that need to be met before a property is transferred from one person’s name to the other. There is the need to look at the legality of the documents, the title. The new sale deed that is entered into between the seller and the buyers needs to be vetted and corrected for any anomalies or mistakes.

On the other hand the role of property appraisers and valuers is also extremely important. Their role is to ensure that the buyers get a true representation of the fair market value for the property in question. While the market at best could give an indicative pricing of the property in question, when it comes to authenticating the same, the role of the valuer becomes extremely important. In 9 out of 10 cases the buyers always go by the value that is suggested by the valuers and sellers also accept it as the final pricing. This is because valuers take a lot of time and effort to submit these valuation reports. They delve deep into the various aspects of the property before coming out with the valuation report.

There is a lot of subjective element to the valuers’ report which is also considered to be very useful for the buyer in enabling him to take the right decision. For example, any professional valuation report will certainly talk about the infrastructure, facilities and amenities that are available in the neighborhood in which the property is being bought. It is also quite likely that there will also be a mention about the quality of people who are living in the neighborhood which again is a very important consideration for the buyers to take a decision.

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The Important Role Of Real Estate Valuers And Lawyers

MW-AL527_home_f_20110715152258_MEAt the end of the day, what exactly is the main objective of buying and selling of properties? It is all about making some profit in the entire deal. While the objective of the seller is to sell the property at a price that will help him to make a profit the buyer would like to purchase the property at a rate which he thinks will enable him to make a good profit over a period of time. Hence, there is a clear commercial consideration that drives both the stakeholders towards such transactions. The role of a professional real estate appraiser is to ensure that both the stakeholders are getting a fair deal in such transactions. Especially when it comes to the buyer, his role is to be sure that the value of the property is the fair representation of the market price. It is here that the role of property valuers becomes very important.

Many of us might be under the thought that valuation of property is all about measuring the property and coming out with a value based on certain parameters and facts. This is only a partial representation of facts. There are a number of other important facts which must also be taken in to account. The valuer never restricts his report to only objective information or figures alone. He goes much beyond it and talks about various matters which might get hidden behind the figures and objective information alone. For example, the property in question could be stigmatized, it could have problems related to easements and there could some running litigations around it.

Unless these facts are also not brought before the prospective buyer it is quite likely there will not be an honest representation of facts. Hence, the role of valuer is not merely restricted to valuation figure alone.

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